GENTING Hong Kong has told shareholders and investors to “exercise caution when dealing in the securities of the company,” warning the Hong Kong Stock Exchange it expects to record a consolidated operating loss of at least US$600 million (A$776 million) and a consolidated net loss of US$1.5 billion (A$1.9 billion) or more for 2020.
The company attributed the losses to the suspension of fleet-wide operations, as well as a Mar-Oct hiatus shipbuilding operations at MV Werften shipyards in Germany.
With the resumption of Crystal Serenity in The Bahamas (CW 12 Mar), Genting will have 41% of its entire fleet operational, which is the highest proportion of all cruise companies.
However, Genting said it expected the COVID-19 pandemic will continue to impact its businesses.
“The Group is unable to predict with certainty the ultimate impact it would have on the Group’s business, its financial condition and its financial performance,” the warning noted.